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5 Written questions

5 Matching questions

  1. Any person who does not have a Social Security number should apply for one using
  2. Double-entry system accounting equation:
  3. The amount of taxes to withheld is based on
  4. Employment records include
  5. Statement
  1. a Total earnings of the employee
    Number of withholding allowances claimed
    Marital status of the employee
    Length of the pay period involved
  2. b Social security number of the employee
    Number of withholding allowances claimed
    Amount of gross salary
    All deductions for the Social Security and Medicare taxes; federal, state, and city or other subdivision withholding taxes; state disability insurance; and state unemployment tax, where applicable.
  3. c SS-5 form.
  4. d Assets = Liabilities + Proprietorship (Capital)
  5. e A request for payment.

5 Multiple choice questions

  1. IRS
  2. usually consists of a section at the bottom of each day sheet and a check register page at the end of each month, plus monthly and annual summaries.
  3. The monetary value of a property or of an interest in a property in excess of claims or leins against it.
  4. Federal Insurance Contributions Act
  5. a single-entry or double-entry system

5 True/False questions

  1. AssetsThe monetary value of a property or of an interest in a property in excess of claims or leins against it.

          

  2. Disbursement journals must show- Every amount paid out.
    - Date and check number.
    - Purpose of the payment.

          

  3. Form W-2The Wage and Tax Statement. Employer is required to furnish two copies to each employee from whom income tax or Social Security tax has been withheld.

          

  4. Double-entry systemThe most complete accounting system. System in which transactions may be entered manually or by computer. Inexpensive but requires a trained, experienced bookkeeper or the regular services of an accountant.

          

  5. Each employee and employer must have aTax identification number